Filed: 8/3/2026ACC: 0001384484-26-000006
📋 What this filing means
MAD RIVER INVESTORS filed this quarterly 13F‑HR report disclosing 30 equity positions with a total reported market value of $268.11M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
30
Positions
$268.11M
Total AUM (reported)
4.58M
Total Shares
Allocation by class
COM$175.30M65.4%
UNIT BEN INT$25.17M9.4%
CL A$21.44M8.0%
SHS REP COM UT$16.39M6.1%
CL A SHS REPSTG$9.18M3.4%
CTF BEN INT$8.19M3.1%
SHS$4.10M1.5%
Portfolio Concentration
Top 3$171.27M63.9%
4–10$73.39M27.4%
11–25$22.11M8.2%
Rest$1.33M0.5%
Top 3 weight
63.9%
Top 10 weight
91.3%
Voting Authority Distribution
Total shares with voting rights: 4.58M
Sole
Full voting authority
0.00
shares
% of voting shares0.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
4.58M
shares
% of voting shares100.0%
Investment Discretion (by position count)
Sole30
Shared0
Other0
Dominant voting typeNone · 100.0% of voting shares
Institutional Holdings30
Rows:
TEXAS PACIFIC LAND CORPORATI
SOLEShares285.33K
TypeSH
Market value$124.87M
46.58%
Sole
0.00
Shared
0.00
None
285.33K
PERMIAN BASIN RTY TR
SOLEShares1.01M
TypeSH
Market value$25.17M
9.39%
Sole
0.00
Shared
0.00
None
1.01M
LANDBRIDGE COMPANY LLC
SOLEShares267.95K
TypeSH
Market value$21.23M
7.92%
Sole
0.00
Shared
0.00
None
267.95K
HAWAIIAN ELEC INDS INC MTN B
SOLEShares1.32M
TypeSH
Market value$17.88M
6.67%
Sole
0.00
Shared
0.00
None
1.32M
GRAYSCALE BITCOIN TRUST ETF
SOLEShares360.14K
TypeSH
Market value$16.39M
6.11%
Sole
0.00
Shared
0.00
None
360.14K
MIAMI INTL HLDGS INC
SOLEShares289K
TypeSH
Market value$10.74M
4.01%
Sole
0.00
Shared
0.00
None
289K
WATERBRIDGE INFRASTRUCTURE L
SOLEShares267.80K
TypeSH
Market value$9.18M
3.42%
Sole
0.00
Shared
0.00
None
267.80K
MESABI TR
SOLEShares323.74K
TypeSH
Market value$8.19M
3.05%
Sole
0.00
Shared
0.00
None
323.74K
WHEATON PRECIOUS METALS CORP
SOLEShares56.17K
TypeSH
Market value$6.31M
2.35%
Sole
0.00
Shared
0.00
None
56.17K
FRANCO NEV CORP
SOLEShares22.51K
TypeSH
Market value$4.69M
1.75%
Sole
0.00
Shared
0.00
None
22.51K
FIDELITY WISE ORIGIN BITCOIN
SOLEShares70.37K
TypeSH
Market value$3.59M
1.34%
Sole
0.00
Shared
0.00
None
70.37K
CARNIVAL CORP LTD
SOLEShares95.37K
TypeSH
Market value$2.72M
1.02%
Sole
0.00
Shared
0.00
None
95.37K
VANGUARD INDEX FDS
SOLEShares6.80K
TypeSH
Market value$2.52M
0.94%
Sole
0.00
Shared
0.00
None
6.80K
GRAYSCALE BITCOIN MINI TR ET
SOLEShares81.52K
TypeSH
Market value$2.12M
0.79%
Sole
0.00
Shared
0.00
None
81.52K
PALO ALTO NETWORKS INC
SOLEShares5.48K
TypeSH
Market value$1.87M
0.70%
Sole
0.00
Shared
0.00
None
5.48K
CBOE GLOBAL MKTS INC
SOLEShares6.71K
TypeSH
Market value$1.63M
0.61%
Sole
0.00
Shared
0.00
None
6.71K
APPLE INC
SOLEShares5.05K
TypeSH
Market value$1.46M
0.55%
Sole
0.00
Shared
0.00
None
5.05K
ORACLE CORP
SOLEShares8.05K
TypeSH
Market value$1.18M
0.44%
Sole
0.00
Shared
0.00
None
8.05K
INTERCONTINENTAL EXCHANGE IN
SOLEShares7.85K
TypeSH
Market value$965.9K
0.36%
Sole
0.00
Shared
0.00
None
7.85K
AMAZON COM INC
SOLEShares3.40K
TypeSH
Market value$810.4K
0.30%
Sole
0.00
Shared
0.00
None
3.40K
UNITEDHEALTH GROUP INC
SOLEShares1.70K
TypeSH
Market value$706.6K
0.26%
Sole
0.00
Shared
0.00
None
1.70K
CISCO SYS INC
SOLEShares6K
TypeSH
Market value$704.8K
0.26%
Sole
0.00
Shared
0.00
None
6K
CINCINNATI FINL CORP
SOLEShares3.60K
TypeSH
Market value$666.5K
0.25%
Sole
0.00
Shared
0.00
None
3.60K
HAWAIIAN ELEC INDS INC MTN B
SOLEShares48.80K
TypePRN
Market value$660.3K
0.25%
Sole
0.00
Shared
0.00
None
48.80K
EATON CORP PLC
SOLEShares1.20K
TypeSH
Market value$511.3K
0.19%
Sole
0.00
Shared
0.00
None
1.20K
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
TEXAS PACIFIC LAND CORPORATISOLE | COM | 285.33K | SH | $124.87M 46.58% | 0.00 | 0.00 | 285.33K |
PERMIAN BASIN RTY TRSOLE | UNIT BEN INT | 1.01M | SH | $25.17M 9.39% | 0.00 | 0.00 | 1.01M |
LANDBRIDGE COMPANY LLCSOLE | CL A | 267.95K | SH | $21.23M 7.92% | 0.00 | 0.00 | 267.95K |
HAWAIIAN ELEC INDS INC MTN BSOLE | COM | 1.32M | SH | $17.88M 6.67% | 0.00 | 0.00 | 1.32M |
GRAYSCALE BITCOIN TRUST ETFSOLE | SHS REP COM UT | 360.14K | SH | $16.39M 6.11% | 0.00 | 0.00 | 360.14K |
MIAMI INTL HLDGS INCSOLE | COM | 289K | SH | $10.74M 4.01% | 0.00 | 0.00 | 289K |
WATERBRIDGE INFRASTRUCTURE LSOLE | CL A SHS REPSTG | 267.80K | SH | $9.18M 3.42% | 0.00 | 0.00 | 267.80K |
MESABI TRSOLE | CTF BEN INT | 323.74K | SH | $8.19M 3.05% | 0.00 | 0.00 | 323.74K |
WHEATON PRECIOUS METALS CORPSOLE | COM | 56.17K | SH | $6.31M 2.35% | 0.00 | 0.00 | 56.17K |
FRANCO NEV CORPSOLE | COM | 22.51K | SH | $4.69M 1.75% | 0.00 | 0.00 | 22.51K |
FIDELITY WISE ORIGIN BITCOINSOLE | SHS | 70.37K | SH | $3.59M 1.34% | 0.00 | 0.00 | 70.37K |
CARNIVAL CORP LTDSOLE | COMMON SHARES | 95.37K | SH | $2.72M 1.02% | 0.00 | 0.00 | 95.37K |
VANGUARD INDEX FDSSOLE | TOTAL STK MKT | 6.80K | SH | $2.52M 0.94% | 0.00 | 0.00 | 6.80K |
GRAYSCALE BITCOIN MINI TR ETSOLE | SHS NEW | 81.52K | SH | $2.12M 0.79% | 0.00 | 0.00 | 81.52K |
PALO ALTO NETWORKS INCSOLE | COM | 5.48K | SH | $1.87M 0.70% | 0.00 | 0.00 | 5.48K |
CBOE GLOBAL MKTS INCSOLE | COM | 6.71K | SH | $1.63M 0.61% | 0.00 | 0.00 | 6.71K |
APPLE INCSOLE | COM | 5.05K | SH | $1.46M 0.55% | 0.00 | 0.00 | 5.05K |
ORACLE CORPSOLE | COM | 8.05K | SH | $1.18M 0.44% | 0.00 | 0.00 | 8.05K |
INTERCONTINENTAL EXCHANGE INSOLE | COM | 7.85K | SH | $965.9K 0.36% | 0.00 | 0.00 | 7.85K |
AMAZON COM INCSOLE | COM | 3.40K | SH | $810.4K 0.30% | 0.00 | 0.00 | 3.40K |
UNITEDHEALTH GROUP INCSOLE | COM | 1.70K | SH | $706.6K 0.26% | 0.00 | 0.00 | 1.70K |
CISCO SYS INCSOLE | COM | 6K | SH | $704.8K 0.26% | 0.00 | 0.00 | 6K |
CINCINNATI FINL CORPSOLE | COM | 3.60K | SH | $666.5K 0.25% | 0.00 | 0.00 | 3.60K |
HAWAIIAN ELEC INDS INC MTN BSOLE | CALL | 48.80K | PRN | $660.3K 0.25% | 0.00 | 0.00 | 48.80K |
EATON CORP PLCSOLE | SHS | 1.20K | SH | $511.3K 0.19% | 0.00 | 0.00 | 1.20K |
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